When you transfer money from the United States, the United Kingdom, or Canada to friends or family members in Nigeria, the money you send is helping them meet their expenses and financial needs. But, did you know that when you make a Nigeria direct money transfer, the money you send is doing much more than just helping your loved ones? It’s true! You are also helping to strengthen the Nigerian economy as a whole.
In fact, according to World Bank, as a share of Nigeria’s Gross Domestic Product (GDP), remittances equaled 4.4 percent of the country’s GDP in 2015! By sending money back to Nigeria as an ex-pat, you are helping reduce poverty, increase capital accumulation among Nigerian residents, provide funding for increased health care and educational spending, provide better access to communications and other technologies, improve entrepreneurship, and more.
Nigeria was Among the Top Five Countries for Financial Remittances in 2015
For calendar year 2015, Nigeria was fifth on the list of countries that attracted a large number of financial remittances, at $21 billion.
The top four countries were as follows:
- India ($69 billion)
- China ($64 billion)
- The Philippines ($28 billion)
- Mexico ($25 billion)
Making a Direct Money Transfer to Nigeria is Fast and Easy
Sending money to family members or friends in Nigeria used to be time-consuming and difficult, both for senders in the U.S., the U.K., or Canada, and for their recipients in Nigeria. If you wanted to send money internationally in those days, you had to plan to visit a bank or money transfer service provider during regular business hours – usually just weekdays during so-called “bankers’ hours. Sometimes, the nearest location was far from convenient, and you could count on wasting a lot of time simply standing in line, waiting to be helped.
Today, thanks to changes in technology, you can make direct money transfers to Nigeria any time – day or night (even on weekends and holidays!) You can also send money without ever having to leave your home or office. You can even make money transfers from the park, a restaurant, or anywhere you have connectivity for your phone or other connected mobile device.
Receiving money is easy and convenient for your beneficiaries in Nigeria, too. In fact, the money you transfer should appear in the recipient’s bank account within just minutes of your transaction.
Use Ping Express to Help Your Loved Ones – And Nigeria’s Economy
Follow three simple steps to get started, and you will be ready to send money, and you will be ready to help your family members or friends and the economy of Nigeria, strengthening and helping to create a better economy – just by making a direct money transfer.